Wakefit IPO Day 2: Subscription Update
Wakefit Innovations Ltd made its IPO public on December 9, and the first-day subscription reveals a tale of sorts. The total subscription was a mere 15%, which means that the market is curious but not very eager to participate. However, retail investors were clearly awake and ready to join in, thus showing some early excitement for the home and furnishings firm located in Bangalore.
The IPO has a lot of 76 shares, and you can buy more in multiples of 76, that is ideal for those who prefer to trade in batches. The allocation is greatly in favor of institutions: Qualified Institutional Buyers (QIBs) will get 75%, Non-Institutional Investors (NII) will get 15%, and the retail will get 10%.
With Day 2 of the subscription process, the focus is on trends; will the market get warm or remain tepid? Investors, don’t miss out on this IPO drama, it has just started!
Wakefit IPO Day 2: Key Details
| Category | Details |
|---|---|
| IPO Price Band | ₹185–₹195 per share |
| Company Valuation | ~₹6,400 crore |
| Grey Market Premium (GMP) Today | ₹5 |
| Estimated Listing Price | ₹200 per share (2.56% higher than upper IPO price) |
| Pre-IPO Investments | Secured ₹186 crore from Steadview Capital, WhiteOak Capital, InfoEdge, and Capital 2B (backed by Temasek) |
| Initial Allotment | Thursday, December 11 |
| Refunds | Friday, December 12 |
| Demat Account Credit | On refund day |
| Listing Date | Monday, December 15 on BSE & NSE |
| Wakefit IPO GMP Trend | Current GMP ₹5, showing a downward trend |
| Nine-Session GMP Range | ₹0–₹36 |
| GMP Meaning | Indicates investors’ willingness to pay above issue price |
Wakefit IPO Subscription Status And Fund Plans
Wakefit Innovations Ltd started its IPO with a small 15% subscription on Day 1, but retail investors were obviously awake and they oversubscribed their part 1.05 times. The participation from NII was only 10%, and the big QIBs are still acting hard to get. At 10:45 IST, there were bids for 79,65,940 shares against 3,63,53,276 on offer, which is evidence that curiosity is happening, though the expressions are cautious.
The size of the IPO was ₹1,289 crore, which included a fresh issue of ₹377.18 crore and an OFS of around ₹912 crore. The stakeholders of the promoters will go down from 43.7% to about 37% post-IPO. The funds that were raised have been allocated strategically: ₹31 crore for 117 new COCO-Regular stores, ₹15.4 crore for equipment, ₹161.4 crore for leases and licenses, ₹108.4 crore for marketing, and the rest is for general corporate purposes. Investors, stay alert, Wakefit’s IPO saga is just unfolding!
Wakefit IPO Grey Market Trend
The Wakefit IPO’s current Grey Market Premium (GMP) stands at ₹5, reflecting a downward trend. Over the past nine sessions, GMP has ranged between ₹0 and ₹36. This premium indicates investors’ readiness to pay above the official issue price, showing cautious but present market interest in the IPO.
(With Inputs)
Also Read: Aequs IPO Listing Tomorrow: GMP at ₹34, Investors Eye Market Debut- Here Is…
Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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